11:28 AM EST - Coretec Inc. : says DDi Corp. has made a proposal to the Board of Directors of Coretec to acquire all the outstanding shares of Coretec common stock for a price of, $0.20 per share, or approximately $3.6 million. DDi's proposal also includes a proposal to assume or refinance the debt on Coretec's balance sheet which was disclosed to be $18.8 million as of June 30, 2009. The proposal represents a 100% premium to the stock conversion price of the debt to be issued in Coretec's recently-announced proposed private placement of convertible debt. DDi's proposal will be withdrawn if Coretec's proposed private placement is completed. DDi expects that the acquisition would be in the form of a merger, with the consideration for Coretec's shareholders being all cash, an exchange for DDi shares or a combination of cash and DDi shares. Coretec Inc.
shares T.CYY are trading up $0.055 at $0.17.
